Goldman Sachs invests $50 mn in Sterling & Wilson

Goldman Sachs invests $50 mn in Sterling & Wilson
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First Published: Tue, Jun 17 2008. 11 44 AM IST
Updated: Tue, Jun 17 2008. 11 44 AM IST
Reuters
Mumbai: Goldman Sachs has bought a minority stake in Indian engineering firm Sterling and Wilson Private Ltd for $50 million.
“The investment will help Sterling accelerate its growth plans both locally and in overseas,” Sterling’s managing director, Khurshed Daruvala, said in a statement.
It said Avendus Capital was the advisor for the deal. Sterling and Wilson, part of India’s Shapoorji Pallonji group, is a mechanical, electrical and plumping contracting firm.
Goldman, which holds small stakes in India’s National Stock Exchange and the National Commodity and Derivatives Exchange, has been looking to expand its presence in India.
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First Published: Tue, Jun 17 2008. 11 44 AM IST